I could never afford it. No point thinking about it.

yes

it felt right and had all the things i wanted

no, coz you can always sell it or rent it out

beware of company title apartments, get yourself a good solicitor and wait for the right one, never rush purchase

oh and stick to your budget (a realisistic budget)

WHat is the minimum amount of money you need to earn a year to be able to afford a mortgage?

make sure the pub is just up the road, preferably uphill so you can roll home.

Yeah, stick to your budget and don't settle for something you're not 100% sure about.

onto the second one now. same as paying rent except you're not paying off someone else's mortgage. if you're the type to piss off o/s for long periods then get used to dealing with real estate agents and tenants who care less about your place than you do.

also - go through a private broker when shopping for mortgages. they get their money from the financial institutions who offer the mortgages - not you.

Same as paying rent. Except TWICE AS MUCH! I'm looking for flats now.

thanks peeps. esp oh yeah - i like the idea that i am not tied to the one place, but am still able to invest in having somewhere to live. that is nice.

and disco - the one i will be looking at today (which from all accounts matches what i am looking for) is both closer to the pub and the beach than my current place, so that has to be a good thing... and should have enough room that all my band peeps can crash when necessary. is it wrong that i think about that when i am looking for a place?

no that sounds senisble

if you are looking in syders i can recommend a solicitor, no not me, the dude i used.

i supposed if you have to live in melbourne or sydney, and you absolutely have to live close to the city, then you can expect to pay more.

agreed. the three most important things to consider when buying are -

1. pub

2. beach

3. room for party and peeps to crash

Twice as much as rent?

Twice as much as rent?

god i hope not I pay a crap-load-a rent.

"WHat is the minimum amount of money you need to earn a year to be able to afford a mortgage?"

more than 50% of your wages on servicing the mortgage and things get VERY tight

Buying is good if you like to DRILL.

thank ohyeah - although i am actually in newcastle. do you have any good legal contacts up this way?

i pay less mortgage than i did rent but i live in the country. It works out to Mrs Bolix and I paying about $85 a week each. We bought about 6 years ago though and a lot has changed. Always factor in what you could afford if interests rates increased by say 5%, because the odds are at some point they're gonna. Also don't expected to feel an improved sense of self worth or whatever from owning property, that soon wears off. The only upside for me is not having to move every 6 or 12 months. I fucken hate moving house.

From exchange.

It's $40ish for that month, and because of spurious legal responsibility in that period, it's better that you just get it now.

Also many banks will require that you've get the insurance in place for settlement, might as well get it done well before settlement.

Thanks, Ox!

I JUST DID!!!!!!!!! Hello Coburg.

Coburg? So your neighbours with Matt Church? This is an important time.

I'm saving for something from this site. http://www.cindyambuehl.com/price-point/46/

Wow.

plus world famous 1950 Eames-Saarinen Case Study Nine as the Guest house

And you go and build a clumsy monstrosity right in front of it. Dickheads.

I thought Matt Church was in Sydney having sex with twins?

Well done BBS. This idea has recently entered my mind again..,

Here you go kids - buy it for cheap (no reserve - state trustees sale- bonus!!) do it up, live the northside life.......

Check behind couches and futons when inspecting. Found a couple of surprises when we took possesion today. Rookie mistake. Still really happy, but daunted by what needs doing.

By the way j/n, the agent for that property was who we went through. Lovely, but a little shifty.

dead bodies?

Lovely, but a little shifty.

and I reckon that's all agents, its in the job description.

Gold bullion. And yes, agreed.

Rookie mistake. Still really happy, but daunted by what needs doing.

We had no idea what problems lay in store for us until it rained heavily for the first time...muchos problemos did arise.

Yeah. A friend bought years ago just as the 100 year storm hit. They hadn't moved in and went to clean pre-mive and found water stains on internal walls and shorted circuits.

All sorted Arthurly?

not yet - my bank account is steeling itself for the bombstrike. Nothing too horrendous, but I don't want to lose my nice tenants on account of some fixable (but expensive) leaks.

House-i-leaks.

did you buy that flat bbs?!

oh, it's not sold yet, silly me.